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[untitled]

NETWORK

DURATION
00:30:00

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SCANNED IN
San Francisco, CA, USA

SOURCE
Comcast Cable

TUNER
Channel 89 (615 MHz)

VIDEO CODEC
mpeg2video

AUDIO CODEC
ac3

PIXEL WIDTH
544

PIXEL HEIGHT
480

TOPIC FREQUENCY

San Francisco 11, Pelosi 4, Buffalo 2, California 2, Us 2, The Business 1, The Credit Union Group 1, Business Loan Portfolio 1, Quinn 1, Finance Unit 1, Nicole Rivera 1, The City 1, Fargo 1, U.s. 1, Cyrus 1,
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  SFGTV2    [untitled]  

    November 27, 2012
    5:30 - 6:00am PST  

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>> thank you for your patience. i m leader pelosi's district rector in san francisco. i've been with the for about nine years, and we are excited to put on this forum today to help people learn how they can
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access credit and capital for their small business. click background on some of what was accomplished in the last congress when later closing was speaker of the house. she had had 16 tax cuts signed into law to help small businesses grow and thrive. as we know, during the last 15 years, small businesses account for about 2/3 of the job growth in our country, but when the bush recession hits in 2009, 2010, small businesses were hit particularly hard. small businesses are the center of her agenda. congress under her leadership gave 27 million small businesses tax cuts. two main pieces of legislation -- the small businesses jobs act in the information you have, will create a total of 500,000 jobs and create eight tax cuts.
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they are all described in the packet you have. also, unleashing up to $300 billion in credit for small businesses to access. there are another eight tax cuts that were passed through a number of different laws. some of our panelists will address those. even though now we are in an environment where there is a republican majority in the house and a slimmer majority in the senate, please note that the leader and democrats are going fight hard to keep their agenda and restart our economy, and there will be more work to be done. i would like to hand over the podium to nicole rivera, who put this together. she will introduce the panelists and go over some logistics. i want to point out quickly that we are being recorded by san francisco government tv. the camera in front is only aimed at the podium. it is not taking shots of the
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audience, only the podium for people who want to ask questions. so do not worry, you are not on tv if you do not want to be. >> thank you for your patience. i am a representative with leader pelosi, and i'm thrilled to have you today to learn more of our best practices for accessing credit. it is a priority for our office. we are very well aware of how small businesses are running up against the wall right now in terms of trying to get the credit and loans they are looking for, so i will try hard to bring the brightest minds in this room so you can effectively fix their range and learn more about what you can do better to fix your business plan and what it is they are looking for. first of all, i will introduce everyone. mark quinn is the san francisco district director of the u.s. small business administration.
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the small business administration covers not only san francisco proper but the bay area. the severed his third district is responsible for a business loan portfolio of 12,000 loans worth $4.2 billion. in 2009, the sba approved $500 million in lending. next, we have the executive director of the san francisco small business office. she was in san francisco in 1986 to open the buffalo exchange limited store, and in the 13 years she worked for buffalo exchange, tennis district manager, she held her open the company from four to 11 stores. in 2009, the mayor appointed her as executive director to the office of small businesses. next, we have the ceo of opportunity funds. he has combined his background
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as a community organizer with an education from stanford to develop an innovative, not-for- profit financial incision that uses market principles to affect systemic change. it operates one of the nation's largest individual development, programs, a leading provider of micro loans in california, and has a robust community real estate finance unit. next, we have the ceo of ne community federal credit union. since 1988, she has been the ceo of northwest community federal credit union. under her watch, the credit union group to over 1600 members. it has become the national model for institutions seeking to provide financial education and banking services to the low- income communities. last but not least, we have our conditional lender represented here by wells fargo. mark cyrus is the senior fda banker for the region -- the
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senior sba banker. he held businesses choose the best loans for the growing business and focus on a comprehensive understanding of their goals for their business. mark is responsible for helping entrepreneurs with sba loans every step of the way. i would like each of you to speak a little bit about what your organization does and, more importantly, address the audience here and let them know what your looking for when you are hoping to fund their loan. we will start with you, mark. >> absolutely. thank you. i want to thank speaker pelosi for putting this together. i want to thank all of the of for coming out on a smell it -- snowy san francisco date. [laughter] we've been told we should get us know when we go back outside.
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not sure what to expect. second, i thank speaker pelosi for all the work she did to support the jobs act and before that, the stimulus bill, the original american recovery act bill that allows sba to be able to besba landing more available to small businesses. very important piece of our tools that we have in this really very difficult time for small businesses to get access to credit. finally, i want to find the rest of the folks here, my colleagues on the panel. it is the case that sba works with these organizations to try to help small businesses understand how to get credit and fine tools to be able to do that. sba programs cover a wide range, and i will talk about this range of lending and the kinds of things we do, but in many ways, we do not do it alone.
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we do it with partners, and that is the takeaway message, the sba lending activity, while would guarantee loans through a number of lenders, we do it with a lot of other partners as well. let me give a little bit of a sense of what the small business administration does and is. we in san francisco covered the bay area and north coast counties, and we do a variety of things. i will come back to the credit card because i know that is what this session is about, but before i do that, there's two other roles we play that are important as well. one is about helping small businesses understand how to start businesses, getting good technical assistance, getting good advice about starting and managing your business. equally important is being prepared for credit. one of the things we tried to do is work with small businesses to understand how to be ready for credit. a lot of that is helping folks that are interested in starting
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a business understand how to develop a business plan, how to get good advice about starting and managing a business. we see a lot of small businesses interested in starting a business, and they have a talent or skill or craft, and they know what they want to do, but they really need to structure a rounded to do it. part of what they need, through partners, through score, through our business centers that we have in san francisco, and through the small business development center we also have here, really help small businesses understand how to get started in business, how to develop business plans, how to be able to put yourself in a position of planning for your business as much as running your business. a big part of what we do is the technical assistance and counseling work we do for folks interested in starting a business or those in the early stages who really need advice about where to go when you run into the wall, about financing, marketing, managing your
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business. that is an important role we play as well. another role we play is helping small businesses understand how to do contract thing, particularly with the federal government, but in a more general way, with all the public sector players. one of the things that small businesses always need is customers. one of the big customers out there is the public sector, but one of the challenges is the public sector on every level, federal, state, and local, are always difficult for small businesses to understand how to navigate the process of getting certified to do business, finding the right sources to be able to talk to and understand how to navigate getting into the contract thing rolls with public sectors, so we try to help small businesses understand that, and we partner with a lot of organizations -- the city, the state of california, and now federal agencies, to be able to take advantage of a huge buying opportunity for small businesses, but one that they find very intimidating.
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sometimes it takes too long. it is too complicated. for real red tape of process is something less certainly exists with small businesses try to get into public contracts the work. those are two roles we play, separate from the access to credit roll. on the financing side, sba plays a role across a wide spectrum in terms of who we partner with and what kinds of loans sba is able to guarantee. we are not a direct lender or guarantee lender. we have a couple of program he says, just to give you a sense, and i will let eric talk about the microlending side, but we have a microloan program to deal with the early stage client looking for a small loan under $50,000, down to, really, $10,000. for those businesses that are not viable in any real way but have a great idea, have some abilities to show that they have
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a good plan and really need to be able to get some early stage financing. that is kind of a non- traditional source of capital that exists out there. the main sba programs are guaranteed loan programs, and we act essentially as a guarantor, insuring the bank that if you make a loan to a small business, the business is not able to pay the loan, the sba will pay the bank a share of that long, typically 75% or 80%. a bank like wells fargo, for example, which is the largest sba lender in the country. when the lender makes the loan to you, they come to us and say that your business, for a variety of reasons, may not be strong enough to get a loan without a guarantee. it might be a business that is too young or is a type of business -- say, restaurants -- that are a little riskier than they want to deal with, or you do not have the kind of collateral a lender is looking for. "an sba lender will be able to
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make the loan with a guarantee that sba will be able to provide. we probably will about 225 sba loans this year. at any point in time, we have about 1500 loans in san francisco that are sba loans. a lot of them are restaurants because that is one of the areas that is very typical because it is a riskier business. but a lot of people in san francisco see that as an opportunity for them as well. we also partner with the golden gate restaurant association to help people understand how to do financing for restaurants. a lot of what we do is helping small businesses get access to credit. the sba loan program covers a range of small loans down to $25,000 and large loans up to $5 million, so it is a very wide range. can be used for a variety of uses -- debt